| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20718 Rutledge Rd, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1990 |
| Units | 21 |
| Transaction Date | 1998-06-24 |
| Transaction Price | $1,550,000 |
| Buyer | BALDI FAMILY LIVING TRUST |
| Seller | PIERPONT INVESTORS & GALLAGHER JOSEPH M |
20718 Rutledge Rd Castro Valley Multifamily Investment
Neighborhood occupancy has been resilient with tight conditions that support stable leasing, according to WDSuite’s CRE market data. For investors, the combination of strong renter demand and an Urban Core setting in Alameda County points to durable operations.
The property sits in Castro Valley’s Urban Core within the Oakland–Berkeley–Livermore metro, where the neighborhood is rated A- and ranks 104 out of 469 metro neighborhoods — a position in the top quartile among local peers. Occupancy in the neighborhood is reported at 98.9%, placing it in the top quartile among 469 metro neighborhoods and the top decile nationally, signaling supportive conditions for rent roll stability.
Daily needs and dining options are a local strength. Restaurant and grocery density rank near the top of the metro and in the 99th percentile nationally, while pharmacies are also abundant (96th percentile nationally). Cafés are similarly concentrated (96th percentile). Formal parks and licensed childcare centers are limited in the immediate neighborhood (both rank at the bottom locally), which may modestly reduce its family-oriented amenity mix.
Tenure patterns indicate depth in the renter pool: the neighborhood records a high share of housing units that are renter-occupied (ranked 27th of 469 metro neighborhoods), which supports demand for multifamily units and can aid occupancy stability. Median contract rents in the neighborhood are elevated relative to many U.S. areas (94th percentile nationally), yet rent-to-income registers at a comparatively low 0.27 (9th percentile nationally), suggesting manageable affordability pressure that can underpin retention and steady collections.
Within a 3-mile radius, demographics show a broadly stable population over the past five years with modest growth, alongside rising household incomes and an expanding share of higher-earning households. Forward-looking data indicate a slight contraction in population but an increase in total households and a smaller average household size — dynamics that can expand the renter base and support leasing even as demographics shift. Elevated home values in the neighborhood (95th percentile nationally) point to a high-cost ownership market, which tends to sustain reliance on rental housing and supports pricing power for well-maintained multifamily assets.
Vintage context: the average neighborhood construction year skews older (1971). Built in 1990, the property is newer than the area’s typical stock, which may provide a competitive edge versus older buildings while still warranting targeted system updates or cosmetic upgrades for positioning.
Safety indicators are mixed when viewed against regional and national benchmarks. The neighborhood’s composite crime rank sits in the middle-to-lower half among 469 metro neighborhoods, and national percentiles suggest safety performance below the U.S. median. That said, trend data show improvement: estimated violent offenses declined year over year with an improvement rate in the upper quartile nationally, and property offenses also trended down with above-average improvement nationally. Investors should weigh these directional gains alongside the area’s relative standing when underwriting.
Nearby corporate employers support a diverse employment base and commute convenience for renters, including Ryder, Caterpillar, Chevron, The Clorox Company, and Ross Stores. This concentration of offices and headquarters within roughly 4–11 miles can help sustain leasing demand and retention.
- Ryder — logistics (3.7 miles)
- Caterpillar — industrial equipment offices (4.9 miles)
- Chevron — energy (8.2 miles) — HQ
- The Clorox Company — consumer products (9.8 miles)
- Ross Stores — retail (10.7 miles) — HQ
20718 Rutledge Rd is a 21-unit, 1990-vintage asset positioned in a high-amenity Urban Core neighborhood where occupancy is strong and renter concentration is high. The property’s vintage is newer than the area’s average stock, offering relative competitiveness versus older buildings and potential to capture additional yield through focused modernization where warranted. Elevated home values locally reinforce sustained rental demand, while neighborhood rent-to-income levels point to manageable affordability pressure that can aid retention.
According to commercial real estate analysis from WDSuite, the surrounding neighborhood ranks among the stronger sub-areas of the metro by amenity access and occupancy, and 3-mile demographics indicate stable to rising household incomes with more households projected even as household sizes edge down. These dynamics support a durable tenant base for a well-operated, mid-sized multifamily asset in Alameda County.
- Tight neighborhood occupancy and high renter-occupied share support leasing stability
- 1990 vintage is newer than local average, with value-add potential via selective upgrades
- High-cost ownership market sustains reliance on rentals and pricing power for competitive units
- Strong amenity access (dining, groceries, pharmacies) enhances resident livability and retention
- Risks: safety metrics lag national medians despite recent improvements; limited parks/childcare nearby; population growth may soften even as household counts rise